South State (NASDAQ:SSB) reports 4Q16 earnings ; Misses Estimate

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South State (NASDAQ:SSB) reports 4Q16 earnings ; Misses Estimate

South State (NASDAQ:SSB) reported net income for the fourth quarter of $ 24.18 million or $ 1.00 per share, compared to income $ 25.54 million or $ 1.06 per share for the year-ago quarter.

The Columbia, South Carolina based company reported fourth quarter adjusted net income of $ 27.99 million or $ 1.15 per share.

Net Interest Income for the fourth quarter decreased to $ 80.60 million from $ 81.43 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the South State to earn $ 1.16 per share on revenue of $ 116.84 million for the fourth quarter.

The Board of Directors has declared a quarterly cash dividend of $0.33 per common share, payable on February 24, 2017 to shareholders of record as of February 17, 2017.